August 27, 2012

Financially Struggling HBCU Is Getting Ready To Close For Good

For more than a decade, Morris Brown College has clung to life as it struggled academically and financially in the face of growing debt and dwindling support. Now, one of the country's oldest black colleges, which at times boasted an enrollment of more than 3,000 student, is now down to about 50, and all but dead.
Morris Brown is facing foreclosure next month, after investors called $13 million worth of bonds tied to the college. An auction of assets, including the administration building, is scheduled for Sept. 4. Read more at:http://www.ajc.com/news/with-foreclosure-looming-morris-1504312.html